Iamgold Corporation $IAG Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 33.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,508,500 shares of the mining company’s stock after purchasing an additional 878,000 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Iamgold were worth $45,318,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Hsbc Holdings PLC increased its stake in Iamgold by 17.8% during the 1st quarter. Hsbc Holdings PLC now owns 19,973 shares of the mining company’s stock valued at $125,000 after buying an additional 3,020 shares during the period. Magnetar Financial LLC acquired a new position in shares of Iamgold during the 1st quarter valued at $98,000. Vident Advisory LLC acquired a new position in Iamgold during the first quarter worth about $92,000. Royal Bank of Canada raised its holdings in shares of Iamgold by 14.0% in the 1st quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock worth $4,321,000 after purchasing an additional 84,939 shares in the last quarter. Finally, Amundi boosted its holdings in Iamgold by 55.7% during the first quarter. Amundi now owns 5,343,801 shares of the mining company’s stock worth $34,895,000 after buying an additional 1,911,840 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Iamgold Stock Down 1.6%

NYSE:IAG opened at $16.49 on Friday. The business’s fifty day moving average price is $14.53 and its 200 day moving average price is $11.17. The firm has a market capitalization of $9.80 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 0.45 and a beta of 1.38. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27. Iamgold Corporation has a 1-year low of $5.02 and a 1-year high of $17.91.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.09. The company had revenue of $714.61 million for the quarter, compared to analysts’ expectations of $759.45 million. Iamgold had a return on equity of 10.39% and a net margin of 15.39%. On average, sell-side analysts forecast that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on IAG. Raymond James Financial upped their price target on Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a report on Friday, October 10th. Wall Street Zen raised Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Stifel Canada upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Scotiabank boosted their price objective on Iamgold from $8.50 to $15.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $15.25.

Iamgold Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.